Facebook has acquired QuickFire, a video compression startup to boost its video efforts and improve video experience.
QuickFire was founded in 2012 and it helps in transcoding the videos to take less bandwidth for users, without compromising in the quality of the video. They build the software platform for reducing the file size and upload time of the videos.
QuickFire CEO, Craig Y. Lee confirmed this acquisition on the company’s website,
“We’re excited to announce today that we are joining Facebook. QuickFire Networks was founded on the premise that the current network infrastructure is not sufficient to support the massive consumption of video that’s happening online without compromising on video quality. QuickFire Networks solves this capacity problem via proprietary technology that dramatically reduces the bandwidth needed to view video online without degrading video quality. Over the past few years, the team has worked hard to meet the demanding needs of content creators around the world. Ultimately our goal has always been to provide a premium quality, immediate, bandwidth-friendly video experience to consumers.
Now we’re ready to take the next step in our growth. Facebook has more than one billion video views on average every day and we’re thrilled to help deliver high quality video experiences to all the people who consume video on Facebook.”
QuickFire Network technology includes T-Video, which is an appliance that is designed to sit in a 1U rack and perform the job of transcoding video. The system includes 11 Intel Core i7 processors and GPUs. After the acquisition, few key members of QuickFire Team will be joining the Facebook team and the company will wind down their business operations.
Facebook said about the acquisition in the following statement, “Video is an essential part of the Facebook experience. We are excited to bring QuickFire Networks on board as we continue delivering a high quality video experience to the over 1.3 billion people who use Facebook.”
On Monday, Facebook has acquired a speech recognition startup Wit.ai.
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